The share price for Auto Craftsman Automation manufacturers
decreased by 9.6 percent on opening March 25. Stock listed at Rs 1,350 on BSE,
compared to the release price of Rs 1,490.
The share price is open at Rs 1,359 on the National Stock
Exchange, registering an 8.8 percent decline compared to the release price.
Given the current market volatility, unpredictable ratings and
strong IPO registration, the price of the list was in the expected line,
experts feel.
Craftsman Automation, a multidisciplinary engineering company, has
received Rs 823.7 crore for its public release which includes a new release of
$ 150 million and a promise of a sale of Rs 673.69 million by existing
shareholders. The company will use the rebate to repay the loan.
It is the largest manufacturer of cylinder heads in building blocks and in the IMHCV segment of the automotive industry.
The business operates in three key sectors namely automotive powertrain and others, automotive products - aluminum, and industry and engineering, with 12 state-of-the-art production facilities in seven Indian cities.
Tata Motors, Daimler India, Tata Cummins, Mahindra and Mahindra, Royal Enfield, Siemens, Escorts, Ashok Leyland, VE Commercial Vehicles, and TAFE Motors & Tractors are among its customers.
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